LUV Options History — August 2023

In August 2023, LUV traded between $31.07 and $33.92. ATM implied volatility averaged 28.9%, placing in the 10.3% IV rank vs the trailing year. The 30-day expected move averaged 8.2%. IV traded below realized volatility by 11.7% (HV 20d: 40.6%). Max pain ranged from $32.50 to $35.00. Net GEX was positive for 2 of 23 trading days. Term structure was in contango for 16 of 23 days. Put/call ratio averaged 0.87.

Notable Days

  • 2023-08-28: Highest Volume — 28,786 contracts
  • 2023-08-23: Largest IV drop — 7.2% change
  • 2023-08-22: Highest IV Rank — 16.3%
  • 2023-08-09: Largest Expected Move — 9.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$32.51$31.07$33.92$33.45$31.70
Max Pain$32.72$32.50$35.00$35.00$32.50
ATM IV28.9%25.5%30.6%28.6%25.5%
Expected Move8.2%7.2%9.0%7.9%7.2%
HV 20d40.6%20.2%49.0%47.9%20.2%
HV 60d35.5%34.6%36.5%35.4%34.6%
IV Rank10.3%0.0%16.3%8.7%0.0%
IV Percentile10.7%0.0%23.4%5.2%0.0%
Term Structure0.2%-1.4%1.6%-0.3%0.0%
VWIV29.5%25.7%32.2%28.1%27.0%
Skew 25d3.1%1.4%4.3%1.4%2.8%
Skew 10d6.2%2.1%9.4%2.9%5.8%
Call IV 25d28.1%24.8%29.7%28.7%24.9%
Put IV 25d31.3%27.7%33.2%30.0%27.7%
Bid-Ask Spread %2.531.823.733.292.65
Gamma HHI0.120.080.310.080.14
Net GEX-1.9M-8.9M715.6K-262.5K-961.8K
Net DEX10.4M-74.1M67.9M-27.4M32.3M
Net VEX-1.7M-1.9M-1.5M-1.9M-1.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.870.202.050.691.22
Total Volume16,076.875,44528,78619,61024,894
Total OI374,018.478341,643399,761388,023375,281

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-08-01$33.45$35.0028.6%7.9%47.9%8.7%28.1%1.4%-0.3%-262.5K-27.4M-1.9M0.693.2911,5788,032208,863179,160
2023-08-02$33.45$35.0029.4%8.4%47.8%11.8%30.0%2.7%0.1%-1.6M-22.7M-1.9M0.553.199,7935,341210,166182,862
2023-08-03$32.25$32.5030.0%8.6%49.0%13.9%31.2%2.0%0.0%-4.7M60.9M-1.8M1.172.1711,52113,527211,799184,375
2023-08-04$32.55$32.5028.8%8.4%48.4%9.7%30.1%1.8%-0.0%-1.3M37.8M-1.8M1.322.2012,03215,858213,145186,616
2023-08-07$32.92$32.5029.5%8.5%48.1%12.1%31.7%3.2%0.2%-3.1M8.7M-1.8M0.452.9017,0617,656192,033179,850
2023-08-08$33.92$32.5030.2%8.5%48.8%14.7%31.1%3.1%-0.6%-191.6K-74.1M-1.8M0.582.3611,8286,918199,037182,417
2023-08-09$33.55$32.5030.2%9.0%48.8%14.8%32.2%3.3%1.6%-1.1M-44.0M-1.8M0.752.005,7204,278200,945185,072
2023-08-10$33.75$32.5029.5%8.7%47.4%12.3%29.6%3.3%1.2%-802.5K-60.1M-1.8M0.432.0011,0524,744200,110185,067
2023-08-11$33.73$32.5028.8%8.5%47.0%9.6%29.5%2.8%1.4%715.6K-60.1M-1.8M0.891.965,8825,248204,821186,470
2023-08-14$33.53$32.5029.6%8.6%47.1%12.5%30.2%3.1%-1.4%121.0K-40.2M-1.7M1.271.824,2205,372194,762175,171
2023-08-15$33.14$32.5030.3%8.7%46.8%15.4%30.4%3.9%-0.9%-1.0M-17.6M-1.7M0.502.093,9391,980197,276177,400
2023-08-16$33.00$32.5030.0%8.6%46.0%14.2%30.8%3.4%0.1%-1.3M-9.2M-1.7M0.912.094,9084,486197,660177,061
2023-08-17$32.36$32.5030.3%8.7%46.3%15.3%31.2%3.5%1.0%-4.8M35.9M-1.6M1.572.224,4626,997197,638177,320
2023-08-18$32.20$32.5029.9%8.5%46.0%13.7%30.5%2.9%1.3%-8.9M45.8M-1.6M0.992.085,6255,574197,819180,101
2023-08-21$31.91$32.5029.3%8.2%45.9%11.3%29.5%4.0%0.2%-2.0M32.4M-1.5M0.203.2421,2644,240180,092161,551
2023-08-22$31.48$32.5030.6%8.6%43.8%16.3%30.5%4.3%-0.2%-2.3M51.5M-1.5M1.552.324,3966,823187,147162,726
2023-08-23$31.57$32.5028.4%8.2%42.8%7.9%29.0%4.1%0.2%-2.3M47.9M-1.5M0.852.868,2747,031188,815164,209
2023-08-24$31.38$32.5029.3%8.1%24.7%11.4%29.2%3.4%0.2%-2.6M57.2M-1.5M0.662.763,2762,169192,735168,435
2023-08-25$31.34$32.5027.9%7.7%22.8%6.1%27.2%3.0%0.4%-2.3M62.0M-1.5M0.223.0417,7433,833193,170170,320
2023-08-28$31.07$32.5027.6%7.7%21.6%5.0%27.6%3.4%0.4%-2.4M67.9M-1.5M2.052.729,44819,338187,014165,740
2023-08-29$31.93$32.5025.9%7.3%23.7%0.0%25.8%3.5%0.4%-486.5K18.8M-1.5M0.392.489,8743,827191,708175,787
2023-08-30$31.62$32.5025.8%7.3%23.8%0.0%25.7%3.2%-0.9%-1.2M34.3M-1.5M0.743.734,4273,279194,831177,848
2023-08-31$31.70$32.5025.5%7.2%20.2%0.0%27.0%2.8%0.0%-961.8K32.3M-1.5M1.222.6511,20913,685195,525179,756